WORKS WITH BLESSINGS ONLY

Running head: Industrial Regulations 4

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INDUSTRIAL REGULATIONS

Criminals have developed a new ‘profession’ involving cybercrime whereby customers have been the primary target. Having become a constant and continuous activity, many companies have lost millions to criminals through cyber attacks. I, therefore, agree that there is lack of cyber security regulations for companies to follow. Customers have suffered as data relating to them in firms without these rules have been interfered with. In some cases, their data has been lost hence hard retrieval of evidence and also at times confidential data has been acquired thus illegal activities like theft (Rowe and Gallaher 2006, March). Companies putting deaf ear cyber security have continuously made losses and lost customer trust leading to closure in some of them.

In this dynamic world, there has been development of international technology. This growth has been a form of innovative strategy for cyber security as opposed to the ancient times. There is, therefore, the need to enhance the security of our computers to utilize the increased role of information technology. There has been identified drop in the economy especially in the digital companies. The decline has resulted from increased cyber attacks. Corporations have played a significant role in the failure of implementing cyber security. There is thus the need to apply cyber security to incorporate e-commerce sector in the development of the national economy (Rowe and Gallaher 2006, March).

The HIPPA seeks to protect families and workers that are medically insured when they change and lose their jobs. Most of their personal information including their health status is retained in the computer. There has been however complaints of patients’ confidential information leaking out hence the lack of trust of patients for hospitals. Companies have also failed to do a prototype of the security measures they want to install to identify their vulnerability hence the constant cyber attacks (Rowe and Gallaher 2006, March).

When industries start running, their control is usually by the government. The government gets revenue from the taxes identified from sectors. The industries should not therefore solely be involved in regulatory regimes. The government should consequently compel action through the regulations (Greenstone, 2002). First, the government has agencies with the technical know-how of the fast-changing environment. This will be of help since the organizations will be able to track down those involved in providing and engaging themselves in illegal contents.

Governments must also be involved in the compelling regulation action for legal means to be followed when detecting crime and also gathering evidence. The legal methods that should be required include notifications from hotlines of the respective industries and complaints from customers. These means should always follow a delicate procedure to make sure neither the customer nor the industry owners are pinned down. Governments also have up to date communicational infrastructure which accommodates all types of industries depending on their complexities (Greenstone 2002).

To ensure equality across all industries. The government takes part in compelling action through regulation through agencies that seek to fight for consumer rights. The government pushes the enterprises to create contracts between them and their clients. This vital step is enforced, and the necessary authorities through the government take legal action to the industries that fail to meet the instructions (Greenstone 2002). Sometimes the industries are over-reactive in cases where they find illegal activities, and that is what the government is involved in regulating where the law is well followed to punish those involved.

References

Greenstone, M. (2002). The impacts of environmental regulations on industrial activity: Evidence from the 1970 and 1977 clean air act amendments and the census of manufactures. Journal of political economy, 110(6), 1175-1219.

Rowe, B. R., & Gallaher, M. P. (2006, March). Private sector cyber security investment strategies: An empirical analysis. In The fifth workshop on the economics of information security (WEIS06)